Beijing, China. Oct.15 (SANA) Oil prices fell by more than $1 a barrel in early trading on Thursday as investors assessed supply risks stemming from attacks on ships in the Strait of Hormuz and U.S. efforts to ease sanctions on “shadow fleet” vessels to reduce shipping costs.
According to Reuters, Brent crude futures fell 1.31% to $104.67 a barrel, while U.S. West Texas Intermediate crude declined 1.07% to $94.07.
The U.S. administration is considering easing sanctions on vessels transporting oil from Russia, Iran and Venezuela in an effort to curb rising prices and shipping costs amid disruptions to maritime traffic in the region.
N.J/ R.K
